How to Save Your Home from Foreclosure

Thanks to fierce competition among lenders, a dizzying array of mortgage options, and government policies to encourage home buyers, more people than ever before are able to buy homes. Unfortunately, the increase in homeownership has been accompanied in many countries by record foreclosure rates. Just a couple of missed mortgage payments can start foreclosure proceedings, and before you know it the house you've worked so hard to buy can be taken away from you. Worse yet, you may still end up owing money if the sale of the home doesn't cover your loan balance, and a foreclosure hits your credit like a freight train. If you're threatened with foreclosure you may be able to prevent this scenario, but you've got to act fast.

Make your mortgage payment your top priority. If you're in serious financial trouble, don't worry about credit card bills, personal loans, and other unsecured debts until after you pay your mortgage. Falling behind on these debts can cause you to accumulate fees and can damage your credit, but the consequences are simply not as serious as falling behind on your mortgage, so prioritize your debts accordingly.

Get help. If you're having trouble making payments you may benefit from credit counseling or a debt management program that includes housing counseling. Your lender may have such a program, or you can see if your local housing authority or extension service offers debt counseling or foreclosure avoidance services. If not, Choose a credit counseling agency carefully, as some agencies charge exorbitant fees that will make you even worse off. Depending on your circumstances a debt management program may also be a good option. In the U.S., the Department of Housing and Urban Development (HUD) maintains a list of credit counseling and debt management agencies approved to work with HUD loans, and they may also be able to help with other lenders. There may also be government or charitable programs to provide financial or legal support to help you avoid foreclosure. Finally, you may also want to consult an attorney, especially if your situation may be the result of predatory or deceptive lending practices. In any case, get help quickly so that you can take advantage of all possible remedies, and above all be careful about who you deal with (see the warning below).

Contact your lender immediately if you can't make your full monthly payment. Don't wait for a letter from the bank, and certainly don't ignore their correspondence. Lenders generally don't want to foreclose on properties, and they'll generally be willing to work with you if you make a good-faith effort to make payments and if your inability to do so is temporary. You will most likely need to provide the lender with bank statements and other financial documents so that they can review your financial situation. They may agree to extend your grace period for late payments or to allow you to skip anywhere from 1-6 payments over a 1-2 year period (a forbearance). They might also accept reduced payments for up to 18 months. Bear in mind that these remedies are all temporary, and you'll need to "play catch-up" once you're back on your feet.

Ask for a restructuring of the loan. If your financial situation has permanently changed, temporary measures probably won't do you much good. In this case, try to negotiate to restructure the mortgage. Restructuring can take many forms, but generally involves extending the term of the loan so you have longer to pay (and thus make lower monthly payments), spreading delinquent payment of several years, and/or lowering the interest rate on the loan.

Get the terms of any offers in writing. If you're able to negotiate an arrangement with your creditors on the phone, ask them to send you the offer in writing. You may need to write them a letter asking for confirmation.

Refinance your mortgage. Refinancing is occasionally a good option, particularly if your mortgage carries a high interest rate and interest rates have since declined. If you can reduce your interest rate or take on a different type of mortgage you may be able to lower your payments to a manageable level. Keep in mind that refinancing can be expensive, however, as you may need to pay closing costs, points, and other fees. Be very wary about refinancing, because there are a lot of lenders who prey on people threatened with foreclosure. You may end up with higher rates or fees that you can't pay, and you'll end up facing foreclosure again, with even less money this time.

Sell assets. If you can't work out a suitable arrangement through these other methods, it may be time to sell off any assets you have, including your car if you don't absolutely need it. Try to find any way you can to slash your spending and raise more money. If your financial troubles are long-lasting, however, raising money in this manner may not help you in the long run.

Sell your home. It's a good idea to contact a real estate agent early on in the process to at least find out how much you can get for your home and how quickly. You're not obligated to sell, but if you decide that selling is the best option, you'll have a head start. While selling your home may not be an attractive option, it's better than having a foreclosure on your record, and if you have substantial equity in the home you may be able to come out of the deal with some money. Perhaps you just have more home than you can afford and after selling you can then buy a home that is within your budget.

• If the amount for which you can sell your house isn't enough to cover the balance of your loan, the lender may agree to accept a reduced amount in a "short payoff" or "pre-foreclosure sale." A short sale allows for full discharge of debt and will affect your credit for two years. You may also be able to receive some of the money to help with your moving costs or to pay off other lienholders.
  


• A buyer may be able to assume your loan (take over your payments) in order to buy your house. This can help you sell your house very quickly, and it may be an option even if your mortgage contract says it is non-assumable. Contact a housing counselor, real estate agent, or attorney to see if this situation might work for you.
  

Consider bankruptcy. Bankruptcy is murder on your credit, and it should not be taken lightly. Bankruptcy is also a very complicated and, sometimes, expensive process, and you may not be able to keep your home even if you declare bankruptcy. Still, depending on your situation, bankruptcy may be your only option to keep your home, and if you're in dire financial straits you should consult a reputable bankruptcy attorney to discuss your options.

Give the lender the home. If no other remedy is available, consider offering the lender a "deed in lieu of foreclosure." You essentially just sign the home over to the lender. While you do lose your home, this is not as damaging to your credit as a foreclosure. Remember, you're making the process easier for the lender, so you should get some concessions, such as forgiving any excess you might owe if the home sells for less than the loan balance. Also try to make sure that you will be able to stay in the home long enough to find new housing. This should be a last resort, and you may want to contact an attorney to determine how your a potential agreement will affect your rights and your finances.

Tips

• Depending on your country or state of residence and your lender, the lender usually initiates foreclosure proceedings after 2-4 missed payments. The whole process can take just a couple months or up to a year. In any case, you've got to stay on the ball, and you can't afford to waste time.


• When considering any sort of forbearance or loan restructuring, realistically consider if you will be able to follow through with your end of the agreement. If you still won't be able to afford to make the payments, the agreement won't do you any good.
  


• Don't move out of your home when foreclosure proceedings begin or you may lose the ability to claim certain benefits (e.g. a one-time FHA mortgage insurance payment) or legal remedies.
  


• If your mortgage is secured by or funded by government programs such as HUD, FHA, or the Veterans Administration, you may have other options to save your home. Inquire with the relevant agency for suggestions.
  


• You're more likely to be able to get a forbearance if you can show that your financial difficulties are temporary or that you're expecting a large sum (e.g. a tax refund) that will enable you to bring your account current soon.
  


• Lenders will generally be willing to make more drastic concessions if the likely sale value of your home is less than the outstanding balance of the loan, since this means they'll have even more trouble recouping their investment. If you are in a position to file bankruptcy, lenders may also be more willing to negotiate with you to avoid that.
  


• How likely is it that you'll be able to save your home? Examine your situation. If the problems that have led to your late payments--illness, job loss, or a death in the family--have been alleviated, you probably have a good chance. If your financial troubles are more permanent, however, you probably won't be able to keep your home in the long run, even if you can fend off foreclosure temporarily.
  


• While a credit counseling agency may be able to negotiate an agreement with your lender, keep in mind that you may be able to negotiate the same agreement, without having to pay the agency's fees. Always try to talk with your lender on your own, and if you can't reach a workable solution, seek outside help.
  


• With any credit problem, always run towards your creditors, not away. Hiding makes it look like you don't intend to pay, and they'll use every tool at their disposal. Be open and honest, and they'll likely work with you.
  

Warnings

• This article is a general guide only and is not intended to replace professional legal or financial advice.
  


• If you choose to sell items from your household, such as kitchen cabinets and appliances, be sure not to sell items attached to the physical property. You don't want the lender who sought a foreclosure judgement against you to come after you for damages you may have caused.
  


• There are, unfortunately, plenty of people and companies who try to take advantage of homeowners desperate to avoid foreclosure, and there are a wide variety of foreclosure-avoidance scams, so be very careful, especially if you're contacted by a company. Some of these scammers scan foreclosure lists looking for victims, and they may offer quick fixes such as "refinancing" schemes that actually trick you into signing your house over to the scammer. Always check out a company thoroughly before entrusting them with your money, and beware high fees, high interest rates, and too-good-to-be-true offers. Make sure you thoroughly understand any contract before you sign it.
  


• Remember that the threatened foreclosure is only a symptom -- unless you solve the underlying problem, you'll soon be facing this or some other symptom, again.
  
  
  
  • If you bought too much house, (much more than 40% of your post-tax income for the mortgage(s), utilities, taxes and upkeep), strongly consider that you may need to sell this house, then rent for a while or buy a more affordable residence.
    
  
  
  • If your spending is out of control in other areas, you should get some help establishing and creating a workable spending plan. Then find someone willing to be tough with you to make sure you stick to it.
    


• Time is of the essence! This process takes time, so begin immediately. You don't want to get caught short of time when your home is at stake.
  

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The Colorado Springs real estate has been buzzing with people either buying or selling their homes. If you are looking for great homes for sale in Colorado Springs you must hire the services of a Colorado Springs REALTOR to help you ind your dream home. If you have any questions about Colorado Springs commercial real estate please contact Mike Stuard.

Learn About How To Buy And Sell Houses

The real estate market has never been more promising for investors than it is today. You can learn how to buy and sell houses to make a large profit. If you have some money to invest right now why not invest in real estate? The real estate market is safer than the stock market and even easier to learn. Real estate investing is also a fun and interesting way to make lots of money. You will find that you can buy and sell houses as a part time supplement to your main income or as a way to have a full time income.

The best way to start real estate investing is to learn as much as you can about it before you make your first purchase. There are many ways to learn about real estate investing but one of the best ways is to learn from others who have been successful at real estate investing. They have already made the mistakes that you don’t want to make and by learning from them it will be like having your own personal mentor. A good way to tap into this information from others is by enrolling in an online seminar sometimes called a webinar.

A real estate investing webinar can be a great way to learn about how to buy and sell houses in your market without losing money. In fact you can learn the tips and tricks that have taken others years of trial and error to find out. Learn these tips without the possibility of losing money. In fact you’ll be able to make more money than you thought possible with real estate investing.

When you are ready to learn more about real estate investing it’s better to start looking for online information. There are many articles that are available that will help teach you much of the basic information that you should know to buy and sell houses. Even those with some knowledge or experience in real estate would do well to get up to date information about the current real estate market. This will help you know what to expect as you begin to buy and sell houses.

After you learn the basic information that you need to know to begin real estate investing you’ll be ready to get some additional training. One of the best ways to get this real estate investing information is by signing up for an online webinar. A real estate webinar is an online seminar where you can learn a lot of information about real estate investing. Choose a webinar that is held by professionals who have been successful in the real estate business. They will be able to give you tips and tricks that they have learned the hard way so you won’t make the same mistakes.

A real estate webinar can put you on the fast track towards successful real estate investing. The real estate market is very fluid and changes quickly so you’ll want to be sure to choose a webinar that gives you the latest information.

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The Colorado Springs real estate market has some great properties up for sale. If you are looking for homes for sale in Colorado Springs as an investment option you may want to talk to a reputed Colorado Springs REALTOR who will help you find th best property in the market. If you have any questions about Colorado Springs commercial real estate please contact Mike Stuard.

A Guide to Buying a Home

Every first time home buyer is faced with the challenges of buying a home. Finding the right type of loan can be tough at times. Buying a home would be one of the most important decisions in your life, a major financial decision that requires a thorough knowledge of the financial aspects and the process of buying a home

When buying a real estate property in the Colorado Springs real estate market an established Colorado Springs REALTOR can guide you and answer your queries about buying a home. It is important that you talk to your Realtor to be familiar with the real estate scenario in the area of your interest. A reputed and well established Realtor will patiently listen to your queries and clear all your doubts. If you find that the real estate agent is not up to your mark and you are not satisfied with the solutions that he/she offers, then you may always look for another one who is capable enough to clear your doubts. A good real estate agent will offer you in-depth information about the local real estate market. He/she will also help you understand the various mortgage products that are available.

There are many homes for sale in Colorado Springs. Consult your real estate agent to help you find the best one for you and your family. Talk to him/her about all the technical aspects of buying a home. Whether it is finding about financing or having the property inspected, a good Realtor can be of great help.

Assess your financial standing and credit ratings. The down payments ad interest rates are directly related to your credit scores. Be sure to have a clear credit report and clear all defaults before beginning the process of buying a home.

Buying your first home is the most important events of your life. Take time to gather as much information as possible to make your home purchase process easy.

Just like the residential real estate, the Colorado Springs commercial real estate market is popular popular among the business community. If you too are looking for some great properties, you may contact Mike Stuard

Look for the right Realtor before you look for a home

Buying or selling a home can be a daunting task. Considering the amount of paperwork you have to do and the time you have to invest can leave you frustrated especially if the results don’t turn out the way you want them to. In such cases what you need is professional help, a Realtor. There are a few things that you must consider before you hire one to work with you.

It always helps to be well informed and aware of the real estate market when you are planning to buy or sell a real estate property. Do a little self research and get to know the market trends. Types of properties and the prevailing price range in the area that you are interested in.

While looking for a realtor or a real estate agent, know what qualities to look for. Look for someone who will patiently discuss the technical aspects of the real estate deal. Find someone who is willing to share his knowledge and experience to help understand your needs and provide you the best of service.

Look through your local listings or at weekend open houses to find a realtor who suits your standards. Ask your friends, family or acquaintances for referrals. Internet is a great source for find real estate agents. Most of them have their own websites that give a brief of their qualities, their professional experiences and even references. This should help you make an informed decision.

Shortlist the prospective realtors and hold personal interviews. Prepare a list of questions that you would want to ask these prospective realtors. You could ask them about their designation, their experience and how long have they been in this field, whether this is their full time career. Ask for credentials and ensure they have a current real estate license and have a good standing in the community.

A good realtor is aware of the local community. He/she must be well versed about the surroundings and should be in a position to highlight places of interest such as shopping malls, recreation centres, schools, restaurants and movies in the area of your interest. A reputed realtor is backed up with a solid marketing plan. Discuss how he/she intents to sell your property and what strategies he/she will adopt for the process. These factors will help you judge the professionalism and make the right decision.

Mutual trust is very important while working with any realtor. They are your eyes and ears in the volatile real estate market. Look for a professional that you are comfortable working with, one who will make things easier when it comes to buying or selling your property.

The Colorado Springs real estate market is a great place to find homes that suit every budget. Whether you are looking for large family home or a villa or a condo or an apartment, there are some great homes for sale in Colorado Springs. Hire a reputed Colorado Springs REALTOR to help you find your dream home. Just as the residential real estate, the commercial real estate market here is also very popular among the business community. If you are interested in some of the best Colorado Springs commercial real estate, you must contact Mike Stuard.

How to Close on the Sale of a Home You Are Buying

Closing on a home refers to the point when all the terms of the contract have been met and you are ready to sign the final loan papers that will transfer ownership of the property.

1. Review all loan documents. Compare them with the estimates you were given, and make sure you are getting the loan you agreed to. Do this 5 to 10 days before closing.
   
2. Get a final estimate from the title or escrow company of the money required to cover the remainder of the down payment and closing costs. Funds are usually required to be paid by cashier's check.
   
3. Make sure all inspections have been satisfactorily performed, all work completed, and clearances for completed work provided. Do this prior to signing any loan documents.
   
4. Do a walkthrough of the property prior to signing loan documents. Make sure all agreed-on work has been completed to your satisfaction.
   
5. Contact the phone, water, garbage, gas and electric companies and establish service in your name. You should do this at least 14 days prior to close of escrow.
   
6. Sign all documents.
   
7. Arrange to get keys once the transaction is recorded.
   

Tips & Warnings

• In some states, an attorney handles the closing.
  
• Be sure to read all the paperwork you will be signing, and follow up to make sure that these steps have been taken.
  
• Once the home is in your name, have the locks changed and get new keys made.
  
• Do not sign loan documents until all necessary work has been completed or an arrangement has been made to hold funds in escrow to cover that work.
  

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The Colorado Springs real estate market has some of the finest homes for sale in Colorado Springs. if you intend on buying one of these home property, you may hire a professional Colorado Springs REALTOR to help you find the perfect home for you and your family. And if you have any questions about Colorado Springs commercial real estate please contact Mike Stuard.

Home Buying Tips

Home buying or selling can be a daunting and a stressful process. Here are a few steps that can make buying a home a little easy.

Inspect the home inspection results: Home inspection today has become an integral part of any real estate dealings. Buyers can now hire the services of professional home inspectors to a thorough evaluation of the property. As a buyer once you sign the contract you must accompany the home inspector during the home inspection process. The entire process may take up to two or three hours but the exercise will give you a detailed idea of the condition of the property that you are set out to buy. The process involves looking for structural damages, mechanical condition and may also involve a radon gas test.

Once the inspection is done the results may range from minor issues like leaking pipelines to major problems like termite infestations or presence of underground oil tanks that can be potential threats to you and your family. Based on these findings the buyer may negotiate the price of the home to take care of the repairs that would need to be done or may even call off the buying process altogether.

Negotiate: Sellers want the best price for their homes; as a result some sellers may not budge even after the home inspections results show some major faults. As a buyer one must ascertain the right value of the home considering all the repair costs. The seller has a fixed number in the mind when below which they would not sell their home. It is up to the buyer to make an informed and well judged decision.

Unexpected appraisal: Often such a situation comes about after the post-inspection home inspection that pulls up a value for the home that is different from the contracted price. The buyer needs consider the significance of this difference in price while making the decision.

Get your finances right: A home buyer that has a pre-approved mortgage is more qualified to buy a home. But a sudden change in the financial status of a buyer may even derail a home buying deal. These sudden changes could be changes in the income, loss of job, drop in stock options. These changes can affect the financial status of the home buyer.

These are a few tips that can make you home buying process a little easier. There are some great homes for sale in Colorado Springs. If yoyu are looking to buy a home in the Colorado Springs real estate market you may want to hire th eservices of a reputed and well established Colorado Springs REALTOR who will help you find you perfect dream home. If you have any questions about Colorado Springs commercial real estate please contact Mike Stuard.

Facing Foreclosure? You Need to Know All of Your Options

Many homeowners are facing foreclosure or struggling to make their mortgage payments in today s economy. About 50 of homeowners facing foreclosure do nothing and let the home go to foreclosure.

What do the other 50 do? There are many solutions available to homeowners who are struggling to make their mortgage payments (other than losing sleep at night).

Some solutions available are:

Loan Modification
Forensic Loan Audit
Short Payoff Refinance
Short Sale
Bankruptcy
or let the house go to foreclosure

How do you know what is the best solution for you? You need to speak with an expert who is aware of all these options so that you can get the advice that is best for your situation. Not all solutions will work for everyone.

A loan modification is an option for the homeowner who wants to keep their home. A loan modification is when the bank agrees to change the terms of the existing loan so that the homeowner can stay in the home. A homeowner can do a loan modification on their own. Just keep in mind that you signed the documents on the loan you have now and it isn’t working for you, so you should consider having an expert handle the negotiation with the bank. The experts know the banks terminology and how to use that information to your advantage.

A forensic loan audit is when you have an expert review your existing loan documents to look for violations. The expert knows exactly what to look for to negotiate with the bank on your behalf. This is different from a loan modification because the expert is looking for violations, not just negotiating to change the existing terms.

Mortgage brokers will talk to you about a refinance. If you can qualify for a refinance, this may be an option for you. Just make sure you get a loan that is a long term solution not a band aid. A short payoff refinance requires approval from your current lender, with them agreeing to take less than what you currently owe.

A short sale occurs when you sell your house for less than what is currently owed. This requires approval from all lienholders, including the bank, contractors liens, HOA liens, IRS liens, and more. Many realtors will tell you to do a short sale, because they are in the business of representing homeowners and home buyers. According to the National Association of Realtors, only 20 of short sale homes listed with a Realtor actually sell. You can sell your house directly to an investor who will buy the house, they are more motivated to get the deal done since they are the actual buyer of the house . A Realtor has to go out and find a buyer who is willing to wait for the bank to approve the short sale, which is very time consuming and why many short sale homes listed with a Realtor don’t sell. Hint: contact a local investor who specializes in short sales to get the house sold.

A bankruptcy attorney will tell you to file bankruptcy. A bankruptcy will stay on your credit report for more than 7 years, so be very sure you want to do this. Also keep in mind, when you are in bankruptcy you have to make payments according to the court order. If you fail to make the payments, your house can still be foreclosed upon.

Your last option is to do nothing and let the home go through the foreclosure process. This means you will have a foreclosure on your credit report for at least 7 years and no house.

So, how do you decide? You need to know all of your options and what is available to you, so you can make an informed decision. Speak with an expert who is able to discuss all of your options, not just one of them.

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The Colorado Springs real estate market has some of the best homes for sale in Colorado Springs. If you are considering buying a home here, you should hire the services of a reputed Colorado Springs REALTOR to help you find your perfect home. The place is a popular destination for residential and commercial property. If you have any questions about Colorado Springs commercial real estate please contact Mike Stuard.

How to Get Required Inspections Before You Sell Your Home

It is wise to get certain inspections before you sell so you know if there will be any work or additional expenses required to sell your home.

1. Learn what inspections a seller is required to provide in your area. Talk to a real estate agent for information. Typically an owner is required to provide a pest control inspection.
   
2. Find an inspector to conduct the kind of inspection you need. Get referrals from your agent or from friends and neighbors. Use only licensed and qualified inspectors.
   
3. Verify any inspector's qualifications. Look for membership in the American Society of Home Inspectors (ASHI) or the National Institute of Building Inspectors (NIBI).
   
4. Hire an inspector soon after you decide to sell. When you receive an offer on your home, you'll be glad to have this responsibility taken care of.
   
5. Keep all inspection certificates and reports handy to share with prospective buyers.
   

Tips & Warnings

• Required inspections vary from state to state.
  
• Some typical inspections might include lead paint, termite and radon.
  
• General home inspectors will also look at your yard, exterior, roof, crawl spaces or basement, attic, electrical system, plumbing, heating and cooling systems, kitchen and bathrooms.
  
• Inspectors may require that certain work be done to get a clearance. Get estimates. Work rates vary greatly from company to company.
  
• In many states, inspectors are not regulated, so choose your inspector carefully. Get several references and check with the Better Business Bureau.
  
• General home inspectors are not necessarily licensed electricians, builders, roofers or plumbers. Be sure to ask your inspector how knowledgeable he or she is about specifics around the home, and don't be surprised if your inspector refers any problems to a specialist.

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A home inspection is important while putting up your homes for sale in Colorado Springs. Many people come looking to buy a home in the Colorado Springs real estate market and having the inspection done prior to selling your home will only ensure that you sell your home fast. You can ask your Colorado Springs REALTOR for references for home inspectors. Some Realtors may also offer home inspection as a part of the contract. Be sure to discuss these details with them. If you have any questions about Colorado Springs commercial real estate please contact Mike Stuard.

Benefits of Home Staging? Stager Puts Skeptic to the Challenge - Home Sells in 2 Days

"Staged home sell faster and for more money," says Barb Schwartz, the creator of home staging and owner of one of the largest home staging accreditation programs

in the country, Stagedhomes. With the growing popularity of hit HGTV shows like Designed to Sell, Get it Sold, and Secrets that Sell, home staging has become one of the most popular marketing tools in real estate today and in some areas it's as expected as receiving a home inspection. Home staging is preparing a home for the real estate market by making all necessary repairs and creating a neutral environment that anyone can visualize living in. This is achieved using techniques such as decluttering, furniture rearrangement, color correction, careful accessorizing, and highlighting a home's best assets and architectural features.

Stagers believe no seller should sell their home before staging it and provide some interesting facts and statistics to back up their claims.

1. 
   
   A 2007 survey of Accredited Staging Professionals by training company StagedHomes found that 94% of staged homes sold on average in one month or less. Homes that were staged spent 80% less time on the market than those that were not staged. It should also be considered that market, location, price, and condition all play a role in the successful sale of a home and these statistics would reflect a not only carefully planned staging but also strong pricing.
   
   


2. 
   
   Only 10% of buyers can visualize the potential of a home, according to Home Staging Resource, another large home staging training program. That means 90% of buyers cannot visualize size and scale. They need furnishings in place to give them a frame of reference.
   
   


3. 
   
   It's easier for Realtors to show and sell their buyers a staged home because they know the property will be in pristine condition. Realtors are often more prone to attend broker open houses because staging creates a buzz and excitement in the industry. Thus increasing showings.
   
   


4. 
   
   Professional Staging attracts the eye and creates a psychological appeal that draws buyers away from the negatives of a home and puts the focus on the positives.
   
   


5. 
   
   Pictures and virtual tours are more enticing when staged. Powerful pictures will attract more buyers to a home when placed on the MLS and Realtor.com.
   
   


6. 
   
   Staged home often appraise at a higher value. A 2007 HomeGain survey of 2,000 practitioners found that the return of investment
   
   from home staging was as much as 343%.
   
   


7. 
   
   Providing a professional and objective eye, home stagers can tell a seller what will appeal to the current market and make suggestions such as remove grandma's pottery collection so that sellers will notice what they are buying, not what a seller isn't selling.
   
   


8. 
   
   By neutralizing a property, buyers can visualize themselves living in a home, rather than the current owners.
   
   

Some skeptics, like Ana Zawadzki, believe a home can sell itself. "If a buyer likes the home enough," says Zawadzki, "They'll buy it no matter what it looks like." Despite skepticism, the Zawadzki's allowed Simplicity Home Staging & Design to help them stage their home. When their home had an offer the second day on the market, the family was convinced, "Staging really works."

Home staging is not decorating or interior design. Though some of the same design principals are used, the objectives are actually the opposite. Designers are personalizing a space while stagers are depersonalizing and neutralizing to help a home appeal to any buyer. Buyers considering staging their home, should consider consulting with a professional home stager who can guide them with the proper techniques to help their home look its best for a sale.

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Colorado Springs is a great place to call home. Thousands of people come looking for homes for sale in Colorado Springs. If you are intending to sell your home you should consider showing off your home to potential buyers or hire the services of a reputed and well established Colorado Springs REALTOR who will help you sell your home quickly in this competitive Colorado Springs real estate market. People also come here looking for Colorado Springs commercial real estate. If you too are among them, you may contact Mike Stuard for all your commercial real estate needs.

Why urban real estate makes perfect investment sense

The biggest advantage of urban real estate versus other niche areas is the ability to liquidate quickly. If the property is in a good area, is well kept and has excellent cash flow, investors will always be attracted to it. Besides having a lump sum up front, there’s nothing investors love more than an asset with heavy cash flow. In my urban properties, I typically cash flow $400- $500 a month NET after expenses. All this from an initial investment of under $30,000. With that kind of cash flow it is easy for me to find an able and willing buyer to sell to if I need some immediate funds. In a soft market, your survival depends on your ability to lower risk and liquidate on the fly.

Urban properties allow investors to increase potential cash flow by buying in bulk. It is not uncommon in some areas of the country to purchase 5-10 cash flow properties for $100,000 total. Imaging buying 10 properties at one time and they are all ready to start earning a return on your investment. No rehab needed, just find a manager and start collecting. Urban properties allow you to reduce your risk by acquiring more assets with less money. If one property sits vacant, the others are still earning cash flow and keeping the business profitable.

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Investing in a Colorado Springs real estate may fetch you good returns if you decide to sell off the property at a later time. Owing to the reputation of Colorado Springs as the most beautiful part of the country, many people come looking for homes for sale in Colorado Springs. A good Colorado Springs REALTOR can be of great help while looking for some of the best homes. The Colorado Springs commercial real estate properties are also some of the most sought after properties in the market. You may contact Mike Stuard for all your commercial real estate needs.

 

Finding The Right Agent To Sell Your Home Fast

A house is one of the best real estate properties that anyone can ever have. No matter how small or big your house is, it will always remain very valuable. As a homeowner, selling your house cannot be a very welcoming development and so if you do not find the idea very appealing, you can look out for a good real estate agent who can sell your house fast. If you are thinking of getting in contact with any real estate agent for selling your property, you should avoid walking into the office of the agent directly because letting a complete stranger sell your house is not a very good idea. It is not a very safe idea to entrust your property to just anyone in the first meeting.

The best method of choosing the right agent would be to ask for referrals from family and friends because dealing with people who are known is a better option than getting into the clutches of any unknown agent. After getting a referral from your friends and relatives you can get in touch with each agent in person and talk to him or her in detail regarding your house. When you talk to them make sure that the agent is listening to you properly and paying a lot of attention to whatever you have to say.

A good agent is the one who understands the need of the seller. Since both of you would be interacting so much, it would be better if you get along well with each other. There are some questions that you should ask the agent when you meet them in person. Ask them about their strategies of marketing a property because it is possible for any agent to place an ad and put your property among the multiple listings, but they need to market the property well. There are many agents who compile the listing of properties and let others sell it for them. So, be aware of such agents because the process might be profitable for them but you would have to face a loss.

Selling and buying of real estate can be a very stressful task and so it always good to take help from a real estate agent. In case you do not get referrals you can look for agents in the classified columns of the newspapers or collect few of the real estate guides so that you can look through some information. Browse through the list to look for properties that are the same as yours and note the numbers and names of the real estate agents who are selling those properties.

The main idea is to find an agent who has some experience with the kind of property you have. Take time and do some good research before you decide on one real estate agent because you should get the value your house is worth of. So keep all these factors in mind when you search for a good real estate agent who can sell your home fast and at a good price.

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Selling a home in the Colorado Springs real estate market can be made easy by hiring a professional Colorado Springs REALTOR who will help you get the right price for your home. There are hundreds of people looking for homes for sale in Colorado Springs. You just need to find the right buyer for your home. For those of you looking to buy a Colorado Springs commercial real estate, you may contact Mike Stuard for details.

 

Ensuring Your Success When Working With Real Estate Agents

You have heard all of the hype surrounding real estate investing, and you’re ready to get started. You know that there is money to be made – you’ve seen the late night infomercials, and you even know some people who are investing in real estate successfully.

But how do you find deals that will make you money? One of the best areas to make money in real estate is through fixer-upper or rehab properties. One of the best ways to find these types of deals is through a real estate agent. You know them. You have seen their billboards with their smiling faces and catchy slogans! But how do you find the right real estate agent?

First there are two types of real estate agents: Buyer’s agents and listing agents. The buyer’s agents are the ones that represent the buyer’s and make offers on listed properties. Listing agents are the agents that list properties and represent the seller of a property. The seller can be a private individual, a bank, the Department of Housing and Urban Development (HUD) or any other person or entity that has decided to sell a property. Some agents represent both buyer’s and sellers, while some agents are only on one side of the business.

There are many courses and gurus that will tell you to find a real estate agent and you will make so much money you won’t be able to stand it. But the key is to find the right agent. If you are to be successful in real estate investing or any endeavor at all, you must find the right people to do business with. You must find the right buyer’s agent to work with you on finding properties. The buyer’s agent that you work with must meet the following criteria:

1. Experience with working with investors


2. Ability to think “outside of the box”


3. Friendly 4. Aggressive

Experience working with investors

You wouldn’t go to Burger King and ask for a bucket of chicken, would you? Yet many investors will attempt to work with an agent that is used to working with first time home owners and expect to have success. You must have someone in your corner that knows the territory and knows what to expect. The market for real estate investors is very different than that of a homeowner looking for a house in which to live. The real estate agent must understand not only the value of comparable sales and how needed repairs affect a sales price, but a myriad of other real estate investing specific criteria. You also want an agent that is used to Bank Owned (REO) properties, Government owned properties (HUDs), etc.

Ability to think outside of the box

All profitable investors must be creative and go against conventional wisdom at times. You must have an agent that thinks like you and is not offended if you are making a creative offer or attempting to put together a creative transaction.

Friendly

This rule should apply to anyone you are going to do business with on a consistent basis. Real estate investing should lead to freedom and security and if you have to deal with someone who is not a joy to be around takes away from your freedom. Your agent should not only be friendly, but should genuinely appreciate your business. Friendly agents get better results; they develop a better rapport with sellers and seller’s agents which will result in more closings. This will result in more money in your pocket.

Aggressive

Many times your buyer’s agent must call the listing agent of a property several times in order to get a response. Your buyer’s agent may also have to make several offers before one gets accepted. Your agent must be able to press and not get frustrated.

Once you have found an agent that fits this criteria, you want to grow and develop a long term relationship with them. You want to do your best to close on time once you have a property under contract with them. Once you have closed several deals with them you also should send them birthday cards, Christmas cards, take them out to dinner etc. to show them that you value their business.

A good real estate agent can make you a lot of money. Find a good one and grow your relationship with them and you will be well on your way to building your real estate empire!

We wish you much success!

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Looking for homes for sale in Colorado Springs? Hire the services of a reputed Colorado Springs REALTOR to help you find one. The Colorado Springs real estate arket has some of the best propertise up for sale. You may find one that suits your style and most iportantly you budget. And if you are looking for Colorado Springs commercial real estate property, you can always contact Mike Stuard for all your commercial real estate needs.

 

How to Do a Short Sale

A short sale in real estate occurs when the outstanding obligations (loans) against a property are greater than what the property can be sold for. Short sales are a way for homeowners to avoid foreclosure on their homes and still be able to pay off their loan by settling with lender.

1. Verify the value of your property. If you are selling the property through a real estate broker, your broker will provide you with an estimate of market value. If you are selling the property yourself, do your own market analysis of the area and your property.
   
   


2. Add up all the costs of selling the property. If you are using the services of a real estate broker, the broker will provide an estimate of closing costs. If you are selling the property on your own (for sale by owner), call a local title company or real estate attorney and ask, as a seller, what the closing costs will be.
   
   


3. Determine the amount owed against the property. This will be the total of all loans against the property.
   
   


4. Do the calculations. Subtract the total amount owing against the property from the estimated proceeds of the sale. On a short sale, this will be a negative number.
   
   


5. Contact the lender or lenders. Talk to someone in the customer service department and tell them the situation. They may direct you to a specific department. Talk to a supervisor or manager if possible; this person will have more authority.
   
   


6. Ask the lender what its procedures are for a short sale. Some lenders are willing to work with you by reducing the amount owed or making other arrangements. Others will look to the agents involved (if any) or anyone else who's making money off the transaction to see if they are willing to make concessions to make the transaction happen. Still other lenders will tell you that your debt is your responsibility, one way or the other.
   
   


7. Sell the property.

Tips & Warnings

• Closing costs will include title and escrow fees (if the seller is responsible for any portion of them, which will depend on your county), attorney fees, a portion of unpaid property taxes, re-conveyance fees, notary fees, delivery fees, documentary fees and/or transfer fees.
  
  


• If you sell the property without the assistance of a real estate broker, you will save the amount of the commission and have more to apply toward paying off your loan.
  
  


• If you feel more secure having a real estate broker handle the transaction, consider using a discount broker to market your property. You could also try to negotiate the sales commission with your broker.
  
  


• Remember that the amount on your monthly loan statement does not include interest. Interest is accrued until the date a loan is paid off, so you may have as much as 30 days of interest on top of the balance owing, and you'll need to include this interest in the total payoff amount.
  
  


• If a property is sold under a short sale, the lender may require the buyer to make up the difference, either through a personal obligation or a collection.
  
  


• The IRS often gets involved with short sales, because they are seen as a relief of debt and may be treated as income. Check with your accountant.
  
  

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There are some fantastic homes for sale in Colorado Springs. If you are looking to buy a Colorado Springs real estate property you may hire the services of a reputed Colorado Springs REALTOR to help you find a property that suits you in every way. If you have any questions about Colorado Springs commercial real estate please contact Mike Stuard.

 

Five Steps To Real Estate Investment Success

Five Steps To Real Estate Investment Success

The world of real estate investment has a whole collection of moving parts and every one is integral to your success over the long term. While the information may seem overwhelming at first, it becomes a lot more digestible if you break it down into bite sized pieces of real estate pie. The following five steps may not be everything you need to know for success in real estate investing, but they will give you a solid foundation.

Determine Your Needs and Understand Your Finances:

What s good for the goose isn't always good for the gander. When beginning your real estate investment career, understand that it s not necessarily the right practice to follow fads or the tide. You have to understand what makes sense for your personal situation. While a multiplex might be your friend s comfort zone, you may only be ready for a one bedroom condo.

As well, have a firm understanding of the financial obligations that accompany a real estate investment purchase. Property management fees, property taxes, insurance repairs, an emergency fund to accommodate vacancy rates and six months of PITI in the bank are good things to start budgeting for. Don t forget taking the time to have a clear understanding of financing options for real estate investors is essential as well.

Work with an Experienced Real Estate Professional:

And by experienced, I mean a real estate agent/broker who consistently works with investment buyers. Why is this important? Because most agents work with owner/occupants and the needs of those buyers are different. Investors are most concerned about a property s financial impact on their portfolio first and the kind of floor coverings and countertops next.

Working with a professional experienced with investor buyers means you re partnering with someone who understands your purchase goals. And if they re used to working with investors, it s likely they ll have some recommendations for ancillary services you might eventually need, like a quality property management firm.

Know When to Walk Away:

You can t get so attached to a property for your portfolio that you re not willing to wak away from the deal. Do your due diligence, negotiate accordingly and if the numbers just don't work, hit the road. There s another condo/house/building/unit down the line.

Do the Math:

Real estate investors aren't in the game because they like to collect pretty properties. They re in it to make money. Make sure that you do the math on any property you re looking to acquire. Do rent rates support the purchase price? Will it cash flow? How high are the property taxes and HOAs? Would a property a half mile away make more sense financially? Can you afford the negative cash flow if it goes vacant unexpectedly? All things to consider for the savvy real estate investor.

Hire a Property Manager:

Most investors don't begin investing in real estate in order to become a landlord, so why should you? A quality property management firm can handle everything your property needs: marketing for new tenants, tenant screening, cleaning, repairs, monthly rent processing, utility payments. For the 5 10 most firms charge, it s worth budgeting for in order for you to enjoy being an investor and living your life instead of worrying what your tenants are doing to your property.

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Real estate investment is one of the best ways to make money. And what better place to stat than Colorado Springs. The Colorado Springs real estate has been a popular option for many who wish to get better returns on their real estate investment. There are some fantastic homes for sale in Colorado Springs. One must consider hiring the services of a reputed Colorado Springs REALTOR to help you find the perfect home that will suit you and your family. If you have any questions about Colorado Springs commercial real estate please contact Mike Stuard.

Steps to Choosing the Best Real Estate Agent for Your Property Transaction

With so much at stake, buying or selling a property can be very confusing. There are many different areas to take into consideration that mist be completed to ensure the transaction is completed and all parties are satisfied. With the associated risks involved it is understandable that many people employ the services of a highly qualified Real Estate Agent. There are endless cases of people trying to sell their own home where they realise it would have been a different story if they'd used the valuable knowledge of a professional real estate agent.

Not all real estate agents are alike, though. There are many different factors that play are part in selecting the right one for you. In some circumstances, there may be hundreds to choose from in certain areas. If you are dealing with Narangba property or North Lakes property, for instance, you are sure to be confused as to how to even begin selecting an appropriate real estate agent. By taking a few key factors into consideration, though, it is possible to find someone who will make the process incredibly easy and pain free.

Key factors in choosing the right agent -

When you begin looking for a real estate agent, credentials matter. Ask friends and family members in the area if they can recommend anyone to you. If this is not possible, begin your search by weeding out agents who do not meet your specific criteria. Look for agents that focus in a certain area and the areas you are interested in, for example an agent that specializes in Deception Bay Property. They are much likelier to be an asset to you in your search.

Experience matters in real estate. Look at agents who have been in the business for a decent length of time. They are far more likely to know and understand all of the ins and outs of the real estate market in the area. Beware of agents who quote you impossibly high prices for property that you are looking to sell; they are probably willing to say anything to get you to sign on.

Find a real estate agents that makes you feel inspired -

Your real estate agent should inspire confidence in you. Before settling on one particular agent, meet with them and see how the dynamic is between the two of you. A real estate agent should exhibit vast knowledge and expertise in the real estate of the area you are looking at. Someone who claims familiarity with Narangba property, for instance, should be able to demonstrate this by discussing the merits of the area.

When you interview a prospective real estate agent, ask them how they plan to work for you. Make sure they go into specifics as to how they will aid you in selling or purchasing property. Ask them about the strategies they prefer to use. The answers they give should make you feel at ease, confident in the knowledge that this agent will work honestly and in your best interests.

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Colorado Springs is a great place to call home. With the Colorado Springs real estate market slowly picking up pace, there are some fantastic homes for sale in Colorado Springs. For those of you looking to relocate to Colorado Springs can hire the services of a reputed Colorado Springs REALTOR to help you find a home that suits your style and budget. If you have any questions about Colorado Springs commercial real estate please contact Mike Stuard.

Real Estate Investing: Peering Through the Gloom…And Finding Value

Real Estate Investing: Peering Through the Gloom…And Finding Value

For several years now, the real estate industry has faced hard times. Whether you measure this as slumping sales of new homes or resale homes, or falling home values, things have looked bleak. The negative press coverage about real estate, often with banner headlines about the most recent gloomy statistic, has fueled the attitude of pessimism we see. This has sometimes been a self-fulfilling prophecy: real estate “experts” predict continued falling prices or sales, potential buyers read this and either decide not to make a purchase. The result: lower sales and lower home values.

The problem with this pervasive pessimism is that it does not tell the whole story. The real estate market is actually many, many markets, not just one. There are regional markets such as the Northeast or the Midwest. Markets within cities such as Los Angeles, Las Vegas, and Seattle. And local markets within each of the cities. In any of these markets, conditions vary widely. Some real estate markets in the U.S. have already begun rebounding, or in some cases have experienced newly rising prices. Factors such as the state of the local economy, net in-migration of people to the market, and the existing supply of homes all play a part in how a given market performs. You can’t look at broad-brush national statistics and draw conclusions about whether it is a good time to buy or not. You have to research the local market where you are thinking of buying and evaluate market conditions there.

The second thing to keep in mind is that the news media are reporting past results; they have no more insight into what may happen in the future than anyone else. There have been many times when the stock market is overwhelmed with pessimism and the result is irrational selling of shares. Then, something sparks a rally and investor confidence returns. The point is, the stock market does not send every investor an e-mail saying: Hurry! Now’s the Time to Buy! Most equity investors do not recognize when the market is turning and so miss out on opportunities. Similarly, by the time it is commonly recognized that the real estate market has rebounded, the best buying opportunities will already be gone.

It is really impossible to predict when the real estate market will rebound on a national level. For individuals with a long-term perspective, five years or more, a home will continue to be one of the foundations of a wealth-building strategy. In an economy as strong as the American economy, where home ownership has for generations been encouraged by Federal government policy, there is no reason to believe that real estate values will not resume their upward climb in the near future. Will it be in six months? A year? Two years? That’s hard to say. What’s important to remember is that this down period in the real estate market will end. Smart investors know that and aren’t forced into unwise real estate investment decisions based on the whim of the media.

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Owining a Colorado Springs real estate can be one of the most important investment. Considering the popularity of Colorado Springs, these real estate properties may fetch you a good price in the long run depending upon the market condition. Many people who come looking for homes for sale in Colorado Springs, get help from reputed Colorado Springs REALTOR to find the kind of property they are looking for. When it comes to investing in Colorado Springs commercial real estate, who else can help you better than Mike Stuard himself.

 

Investment Property Loan Rate

People can make serious money using real estate investments. The only problem with property investments is that you need some serious capital to start such a business. If you dont have enough money, there are several ways to get some. Among all the possibilities is of course a bank loan. If things go well your only problem might be the investment property loan rate.

1. Choices with investment property loans

Loan rates and investments loans can differ from each other greatly. Real estate investor loans nowadays can offer several different options to any borrower. Unfortunately, these options can sometimes be very confusing, so you need to be attentive and make the right choice. Most of the banks have a professional and knowledgeable staff that understands investor loans and can be of great help, and give you exact data on your investment property loan rate.

2. There is a variety of options

Due to the fact that there are hundreds of different scenarios and options available for you, it is impossible for an inexperienced investor to manage them. But, to get things started, here are some of the most common real estate investment loan options. A. 100% financing this is a great program for those who want to refinance or to sell a property, within a short while. There is generally no sort of prepayment penalty, but thus loan option is available only for residential properties.B. 95% piggyback financing the number 95% is calculated as follows: 80% first mortgage loan and the rest of 15% the second mortgage loan. The first mortgage has a fixed investment property loan rate that amortizes the mortgage, and the second one can be adjustable according to your personal needs. C. 90% financing and 80% financing in both of these cases there is no private real estate mortgage insurance, and it is available for all sorts of properties (single family, duplex, triplex and so on). In these cases, there is a fixed investment property loan rate.

3. A variety of Refinance Loan Programs exist

A.One type of financing is 90% financing 90%. The options available are: fixed rate, adjustable and interest-only. B. 85% financing in this case, cash out is acceptable, and will have privatemortgage insurance . The other options are the same as the one in the 90% financing. C. 80% financing there is a fixed investment property loan rate, adjustable and interest-only. Cash is acceptable and no privatemortgage insurance . D. 75% financing. This real estate loan option is great for stated income borrowers.You dont need to bother with seasoning or private mortage insurance.

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Buying a Colorado Springs real estate property is the best way to enjoy the best of both the worlds, a laid back are relaxed lifestyle in the most beautiful surroundings and also the fast paced life of a metro place. There are some of the best homes for sale in Colorado Springs. If you are looking to buy one for your family you sould hire the services of a reputed Colorado Springs REALTOR who will help you find one that suits you in every respect and if you have any questions about Colorado Springs commercial real estate please contact Mike Stuard.

 

You Can Buy a Home Now-use a Lease Option

One of my favorite ways of buying or selling real estate is by using the lease with option to purchase or the lease option method. In some areas this is known as the rent to own method.

Whatever you want to call it, this is the time of the real estate cycle when it's probably the best way or maybe the only way to buy or sell a house. The reason being is that property values have fallen enough to where more people can afford a house, but fewer people can qualify for a loan due to the current lending crisis. I imagine that loans will be easier to get in 2 or 3 years.

With the housing values in a free fall mode many sellers are giving up trying to sell and are renting their property. Renting out a property is no bed of roses as renters are not known for being very kind to a property. This is where the lease option shines.

The way a lease option gets started is when a person finds a house they would like to buy, but for whatever reason can't buy it right now. It could be because they don't have a large enough down payment, their credit is not good enough, they don't make enough money to make the payments or maybe they haven't been on the job long enough. All of these reasons can usually be cured by time. The buyers believe that they will be able to get a loan and complete the sales transaction within the time frame of the lease option.

If the prospective buyer and the seller can agree that some time down the road the buyer will be able to qualify for a loan then they can go ahead and put together a lease agreement and an option agreement. The buyers normally give the seller a option fee amount and often pay a little more in rent. In return the seller will sometimes give the buyer credit for the extra rent plus some extra credit for paying on time. The option fee and credit will be used for the down payment or taken off the sales price. At this point the buyers have achieved several things:

1. They have basically bought the home they want. Because they have an option to buy it the owner can't sell it to anyone else.


2. They are able to buy a house now instead of waiting until they get everything in order.


3. They have time to get squared away and they basically own the house.


4. Normally they can fix it up the way they want.


5. They have a forced saving account if they are getting a rent credit.


6. If the house needs repairs they can do them instead of giving the money to the seller for an option fee.

The seller has really made out also:

1. He's made a guaranteed sale or if the buyers don't exercise the option he keeps the fee.


2. He has made extra income
   with the above rent lease payment.


3. The option fee is tax free money he can use.


4. He normally sells above the market value.


5. The buyers are keeping the property in good condition as they are planning to buy it.


6. If he can't afford to fix the property up he can offer it to someone who can do the repairs rather than pay an option fee.

As you can see this can be a real win-win situation for both parties as they each have solved their problem. Of course this is a simplified version as there are many variations of how the lease and option are handled but this should give you an idea of how to go about learning more about it.

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Coolorado Springs is a great place to call home. Many people come looking for homes for sale in Colorado Springs. The Colorado Springs real estate has some of the best properties for sale in the market. If you too are looking to buy a home here you may want to hire the services of a reputed and well established Colorado Springs REALTOR who will help you find the perfect home for you and your family at a price that is affordable to you. If you have any questions about Colorado Springs commercial real estate please contact Mike Stuard.

 

How to be a Proactive Home Seller: Pre-Listing Home Inspections

There are a large number of homes on the market at present so it can be a hard time to sell your home unless you can make your home stand out; one way that some home owners are making their properties grab sellers’ attention is by having a pre-listing home inspection done.

Normally when a home is for sale, the buyers arrange for an inspector to come through and inspect the home for any problems; the list of issues is presented to the owners and then an offer might be made with a condition that certain things be fixed.

With a pre-listing inspection, the home owners proactively have the home inspected so that they are aware of any possible issues that might cause problems with offers later on. Once the home inspection is done, the owners can decide what problems (if there are any) need to be addressed before the property is put on the market.

The benefit in a pre-listing inspection can be that if your home has any major problems to fix, it is easier to make repairs before you start staging your home and having people come through to tour it. Sometimes the problems that can be present in your home are a surprise when they’re discovered; it’s often better to have the freedom to fix the problem more at your leisure in a way that you choose than to have prospective buyers possibly choose a more expensive way that they want things done.

Another benefit to having your home inspected before you list it is that it can help you save time later on when prospective buyers are looking to make an offer. If you can show them that your home has already been inspected, it shows them that you know exactly what kind of condition your home is in and that you’re a proactive home owner who addresses problems as they arise. If you’ve had to make repairs to your home due to discoveries made by your home inspector, you can also show the prospective buyers the documentation for that so that they know that any issues found in your inspection have been dealt with.

Anyway that you can make a home sale easier for buyers and create less work for them will be a benefit for them and a good way to make them look favorably at buying your home. After all, a smooth home buying experience is a pretty great incentive.

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buying a home in the Colorado Springs real estate market is a great experience. Hiring the services of a reputed Colorado Springs REALTOR can make you home search even more easier. There are some fantastic homes for sale in Colorado Springs to choose from but if you have any questions about Colorado Springs commercial real estate please contact Mike Stuard.

 

Tips To Buying A Home

Whether it's your first time buying a home or not, you should familiarize yourself with the whole mortgage process. Numerous mortgage lenders will assist you in the process of acquiring a pre-qualified and pre-approved home buying application. Of course, your mortgage qualifications will be required by your agent to strengthen your deal in finding andbuying a home.

The followings are some things to consider when buying a home:

1. Money

First of all, before buying a home, consider your financial status. Check your credit situation by getting hold of your most recent credit report at the credit center. You should know exactly how much money you have and how much you can afford to spend on a home.

2. Needs vs Wants

Do not confuse between needs and wants when you can have both. Upon gathering information in buying a home, take into consideration the different types of houses available and decide what you want from what is offered.

3. The Right Agent

If you believe in the comfort and rewards of buying a home, you will need to trust the agent who will do the work for you. In finding a reliable agent you will need to look at many sources of information to determine "who represents what". It is always best to compare experiences, backgrounds and referrals of reputable people.

4. Time

Do not expect to find a great home tomorrow if you've only begun your search today. Buying a home is like working on a school project. It needs ample time. If you think you've gathered enough information and resources within your time table, so be it.

5. Cue Cards

You don't want to forget even a single detail about the home you've selected, right? Why not keep little cue cards where the 'plus and minus' on each home or property you've seen is listed and recorded.

6. Points and Plus

Learn how to bargain and get the best possible deal.

7. Word Confusion

Needless to say, when you buy a home you should familiarize yourself with the terms and words used during the dealing and negotiating with your agent and contractor. Also, try to keep a list of the questions you have that need further clarification.

8. Safety and Security

Be sure to get homeowner's insurance. It may seem like a lifetime expense, but it will get you continued savings in the long run.

9. Final Check

Do a final inspection or walk-through of the house before settlement and before the contract is processed.

Please do consider the above checklists as helpful factors when you to decide to buy a home. Plan ahead and avoid the common mistakes that most home buyers make.

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There are some great homes for sale in Colorado Springs. Hope thee tips help you buy the Colorado Springs real estate property that you are looking for. Hire a reputed and well established Colorado Springs REALTOR to help you sell your home fast. If you have any questions about Colorado Springs commercial real estate please contact Mike Stuard.

 

How to Make an Offer on a Home Without the Representation of an Agent

A purchase agreement is the offer you present to the seller. If you're working with an agent, he or she will handle this for you. Be careful: When your offer is accepted, it becomes the purchase contract - so think before you write.

Things You'll Need:

• Purchase Agreement
  
  


• Real Estate Attorneys
  
  


• Online Mortgage/finance Services

Instructions

1. Get prequalified. Sellers are more inclined to accept an offer from someone they know can afford the property. Provide a letter of prequalification.
   
   


2. Do your homework. Determine the market value of similar homes in the neighborhood. Decide before you write the offer how much you are willing to pay.
   
   


3. Buy a purchase agreement and receipt for deposit form from the local board or association of realtors or a real estate brokerage. Standard forms from stationery stores are too generic.
   
   


4. Read through the entire contract form. If there are items you don't understand, discuss them with a real estate broker or attorney before you write the offer.
   
   


5. Itemize how much you will put up as an earnest money deposit (the less the better).
   
   


6. Itemize the total amount of the down payment that you will pay.
   
   


7. Identify an escrow or title company that will handle the transaction. Determine the length of the escrow period.
   
   


8. Make your deposit check payable to the escrow or title company, not the seller.
   
   


9. Decide on the amount of financing. The lender that prequalified you will have this information.
   
   


10. Delineate who will pay for title and escrow fees, a termite report, work, inspections, reinspections and warranties.
    
    


11. Leave yourself an out. Always include some sort of contingency that will allow you to back out of the contract legally, such as approval of inspections, documents or financing.

Tips & Warnings

• Consider hiring a real estate attorney to review the offer before you submit it.

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Buying a home in the Colorado Springs real estate market would be one of the most important decisions of your life. Many people come looking for homes for sale in Colorado Springs because of its great lifestyle that is a perfect blend of a hurried city life and a laid back outdoors. If you too are looking for such an experience you may want to hire the services of a reputed Colorado Springs REALTOR who will guide you through the entire process of buying a home. For those of you who wish to setup a business here and are looking for some great Colorado Springs commercial real estate properties, you may then contact Mike Stuard for all your commercial real estate needs.

 

How to Organize Your House-Hunting

When you are moving across town, house-hunting is easier than when you are moving to another city. When you are only able to go for weekends to look at houses, you may have trouble keeping straight the details of the various houses you see. Here is one way to do it.

1. Each person in the decision should have a three-ring binder with page protectors. You should get pages and printouts about each house you look at, but there are details that you will notice that are not mentioned.
   
   


2. You need to write down the things you like and dislike about each house, either on the back of the printouts or on another sheet of paper. Information on each house should be inside its own page protector.
   
   


3. That way, when you are back in the place you are moving from, you can look back and remember which house it was about which certain things struck you, for instance: "Nice porch with railing," "Big kitchen," or "Stairs too narrow."
   
   


4. You can keep your own photographs in the same protector if you like, or else in a computer file with the address of the place you are looking at.
   
   


5. That way, when you go back another weekend, you will know which houses you want to look at again, and can make your decision more easily.
   
   

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hunting a house in the Colorado Springs real estate can be made easy if you decide to hire the services of a reputed Colorado Springs REALTOR. There are some great homes for sale in Colorado Springs. You just need to be a little patient till you get one. If you have any questions about Colorado Springs commercial real estate please contact Mike Stuard.

 

The Best Way To Investing In Bank Owned Homes

Bank owned homes are definitely one of the biggest markets in real estate investing. This is exactly where a home is finally foreclosed on and nobody buys it at the auction. Banks really want to unload these properties fast at this particular point in time.

Well this is definitely the venue where a savvy investor can really take advantage of the market and get some great deals. So in this article we are going to show you how to invest in these bank owned homes.

First of all you have to decide on what your investment strategy is. Because depending on what you wanted to do with a property will determine how much you can spend. If you want to invest for a short term to resell, in other words, you actually want a good low price. But if you are wanting to hold long term you could pay more to close the deal. That is basically one of the very first things I ask of my investors of my foreclosures company.

Once you know very well on how you want to invest on these things, then you need to go out and find these properties. One of the best and proven ways to do that is simply to either learn your market in order for you can get the best deals. Or you can hire someone who knows the market and can spot a great deal. That is certainly one of the advantages that you can get from a service like my investment property service.

Finally once you see a really good deal you really need to know how to successfully negotiate and close the deal. Because right now, the bank owned market is definitely competitive. There are a lot of people driving the prices up which make the deals no good. The experience of a good negotiating team is surely offered by a company like my foreclosures service.

So these were some of the common things that you have to carefully consider and do to make sure to get a great deal on a home. There is definitely a lot of money to be made right now so you want to make sure to take action.

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Looking for homes for sale in Colorado Springs? Look no further, you can hire the services of a reputed and a well established Colorado Springs REALTOR who will help you find your dream home. Colorado Springs real estate has some of the best homes for sale in the market. Do a little research with your realtor and you will find one that suits you best. If you have any questions about Colorado Springs commercial real estate please contact Mike Stuard.